The objective of the Bagre Growth Pole Project for Burkina Faso is to contribute to increased economic activity in the project area, resulting in an increase in private investment, employment generation, and agricultural production. The project attracted...
See More +The objective of the Bagre Growth Pole Project for Burkina Faso is to contribute to increased economic activity in the project area, resulting in an increase in private investment, employment generation, and agricultural production. The project attracted US$24.85 million of new investments because of project assistance to companies for completing: (a) business plans; (b) forms requesting credit from financial institutions; and (c) negotiating with banks. It has likewise been responsible for creating more than 25,000 new jobs and fostering the establishment of more than 167 new enterprises in the project area for the agricultural value chain. The matching grants component has benefitted more than 900 small and medium enterprises (SMEs) and because of project activities, the number of new private service providers now totals 97. The grants have been successful in building relationships between business development services and firms in the project area. The extension of the project closing date to November 30, 2020 will be the second extension of the closing date, and with this extension, the project will be nine (9) years and five months old at the time of the proposed new closing date. Since the cumulative extensions of closing dates will be 60 months and retroactive, this request requires RVP decision. The extension of the closing date will be made consistent with the closing date of the additional financing (AF).
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